Form 4: ServiceNow CEO William McDermott Reports Stock Transactions
SEC Form 4
William McDermott, CEO of ServiceNow, reports the acquisition and disposal of common stock and restricted stock units on May 10, 2024.
Summary
- On May 10, 2024, William McDermott, the Chairman and CEO of ServiceNow, engaged in transactions involving the company's stock.
- McDermott acquired 600 shares of common stock through the vesting of restricted stock units (RSUs).
- He disposed of 323 shares of common stock to cover federal and state tax withholding obligations related to the RSU vesting at a price of $729.79 per share.
- Following these transactions, McDermott directly owns 733 shares of common stock and indirectly owns 17,177 shares through a trust.
- He also directly owns 4,203 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CEO, to report transactions in their company's stock. It provides transparency to investors regarding the actions of company leadership.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the CEO's stock ownership changes.
Key Dates
| Date | Description |
|---|---|
| 05/12/2022 | First vesting date of restricted stock units, with 1/16th of the total shares vesting quarterly thereafter. |
| 05/10/2024 | Date of the reported stock transactions, including acquisition and disposal of shares and vesting of RSUs. |
| 05/14/2024 | Date of signature for the Form 4 filing. |
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